Overview
What is El Pajaro Community Development Corp?
El Pajaro Community Development Corp is a nonprofit organization situated in Watsonville, California, primarily focusing on supporting underrepresented and underserved minority small business owners and entrepreneurs. During the unprecedented 2021-2022 fiscal year, the organization witnessed a significant surge in requests for COVID-19 relief services. El Pajaro CDC played a crucial role in helping small businesses access financing and resources to recover from the pandemic's economic impact. The organization tripled its business development services and training offerings, resulting in an increased workload. This expansion was facilitated by El Pajaro CDC's selection as one of 17 sites for the CA Dream Fund Program sponsored by the State of California. The nonprofit also launched an in-house lending program to provide micro-loans to small businesses with limited access to traditional financing. El Pajaro CDC aims to enhance its lending capabilities by pursuing a Community Development Financial Institution (CDFI) certification. The organization's loan program aims to fill the persistent gap in mainstream capital access for underserved businesses, and as of June 30, 2022, it has issued loans totaling $487,992. The nonprofit strives to increase access to economic opportunities for underserved communities, partnering with local cities and providing bilingual workshops through its Empresari@ Program. El Pajaro CDC's commercial kitchen incubator has been serving food entrepreneurs for over nine years, currently housing 35 small businesses and supporting new ones in the licensing process.
Official website here: www.elpajarocdc.org
Is El Pajaro Community Development Corp legitimate?
El Pajaro Community Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. El Pajaro Community Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $637,661
For more financial information, click here
Official website here: www.elpajarocdc.org
What is the mission statement of El Pajaro Community Development Corp?
El Pajaro Community Development Corp's mission is centered around promoting community and economic development. The organization primarily serves underrepresented and underserved minority small business owners and entrepreneurs, offering them technical and business assistance. This aid is instrumental in expanding economic opportunities and job creation to benefit the target population. During the 2021-2022 fiscal year, the organization experienced a significant increase in service requests due to the COVID-19 pandemic's economic impact. Despite the challenges, El Pajaro CDC successfully supported local entrepreneurs in accessing funding and resources, leading to a surge in demand for their services. The organization also expanded its EMPRESARI@ business class and other business development services to accommodate the growing demand. El Pajaro CDC's activities also include providing micro-loans to small businesses with limited access to traditional lending opportunities. This holistic approach aims to fill the persistent gap in mainstream capital access for underserved businesses.
Official website here: www.elpajarocdc.org
What is the revenue of El Pajaro Community Development Corp?
El Pajaro Community Development Corp's revenue in 2023 was $2,392,811.
Official website here: www.elpajarocdc.org
Who are the executives of El Pajaro Community Development Corp and what are their salaries?
The average compensation at El Pajaro Community Development Corp during 2023 was $57,969. There are 11 employees at El Pajaro Community Development Corp.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.elpajarocdc.org
Where can I find the form 990 for El Pajaro Community Development Corp?
El Pajaro Community Development Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.elpajarocdc.org
Learn more at the official website: www.elpajarocdc.org
Mission Statement of El Pajaro Community Development Corp
El Pajaro Community Development Corp is committed to promoting community and economic development. Their primary focus is on providing technical and business assistance to underrepresented and underserved minority small business owners and entrepreneurs. The organization's mission is to expand economic opportunities and create jobs for this target population, aiming to level the playing field for these entrepreneurs who often face unique challenges in the business world.
During the unprecedented year of 2021-2022, El Pajaro CDC played a significant role in supporting local entrepreneurs recovering from the economic impact of the COVID-19 pandemic. The organization tripled its business development services and training offerings to meet the increased demand, thanks to its selection as one of 17 sites for the CA Dream Fund Program sponsored by the State of California. El Pajaro CDC also launched an in-house lending program, providing micro-loans to small business clients with limited access to traditional financing opportunities. This program complements existing services and focuses on loan readiness support to enable capital access for underserved businesses.
The organization's efforts are geared towards addressing the challenges faced by businesses that may be perceived as too risky, have loan requests too small for many lenders, or struggle with strict underwriting grids. El Pajaro CDC offers flexible underwriting criteria and the use of alternative collateral, which allows economically disadvantaged businesses to qualify for financing. The organization's loan terms are also affordable, with extended terms and low interest rates. El Pajaro CDC's mission is not only about providing financial assistance but also about offering comprehensive business development services and coaching, guiding businesses from an idea to a full-fledged operation.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
El Pajaro Community Development Corp significantly impacts underrepresented and underserved minority small business owners and entrepreneurs by promoting community and economic development. By focusing on expanding economic opportunities and jobs, the organization has become a pivotal resource for those seeking technical and business assistance, especially in the aftermath of the COVID-19 pandemic.
During the fiscal year 2021-2022, El Pajaro CDC supported local entrepreneurs in recovering from the economic devastation caused by COVID-19, facilitating access to over $3.4 million in relief funding for 129 clients. The organization's commitment to women's entrepreneurship has been bolstered through its designation as a Women's Business Center, empowering women and entrepreneurs of color while removing barriers they face in the business landscape.
El Pajaro CDC's in-house lending program addresses the persistent challenges associated with accessing traditional financing, offering micro-loans to clients who might otherwise struggle to secure funding. This program, supplemented with technical assistance and financial education, aims to enhance loan readiness among economically disadvantaged businesses. By June 30, 2022, the organization had issued nearly $488,000 in loans, paving the way for business growth through more flexible and accessible financial options.
Moreover, El Pajaro CDC engaged in significant business education efforts, conducting 76 bilingual workshops that attracted 238 participants. In total, 468 clients benefited from 2,924 hours of technical assistance, with a notable proportion being women and individuals of Hispanic or Latino descent.
The organization also runs a commercial kitchen incubator, fostering 35 small food businesses and mentoring aspiring entrepreneurs through training programs. By continuously expanding its services and fostering partnerships with local municipalities, El Pajaro CDC plays an essential role in uplifting underserved communities, driving job creation, and enhancing economic resilience in the region.
This information is meant to be a general summary of El Pajaro Community Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $6,381
- Program Service Revenue: $548,758
- Gross Receipts: $2,392,811
Assets and Liabilities:
- Total Assets: $6,574,492
- Total Liabilities: $3,171,129
- Net Assets: $3,403,363
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUSINESS SERVICES
Revenue
$444,074
PROGRAM SERVICE
Revenue
$44,684
PROPERTY MANAGEMENT
Revenue
$60,000
Organization Details
Founding Year
1979
Principal Officer
June Padilla Ponce
Website
www.elpajarocdc.orgNTEE Category
Code: S31 - Community improvement
If you are a representative of El Pajaro Community Development Corp and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.